If you’re visiting this page, we’re thinking it’s definitely not just out of curiosity. There’s a very good chance you’re checking us out because you actually have been seriously toying with the idea of finally getting an electric or hybrid car. There are just so many options out there. Add to that the fact that you’ll have tons of price brackets to choose from too and making a specific choice can sometimes feel like a nightmare. You want to find your dream car and you want the choice you make this time to be no less than the right one. If you’re aiming to get approved for a loan on an electric car, you’ll find that our simple soft-search can be most useful. It is designed, after all, to help you give content and a better grasp of information of what offer you can likely get if you are to take out an electric car financing without having to worry that your credit rating gets affected as a result.
Use our electric car financing calculator
Representative Financing Example: If you intend to borrow £7500 and you are offered a loan term of 4 years and you got a 27.9% APR and a fixed rate of 27.9% where no deposit is required, your payable amount would be £244.77 per month. All in all, this brings the overall credit cost to £4,248.96. Adding the principal borrowed amount to this figure brings the charging total to £11, 748.97. Remember that the rates you will be offered by the lender is likely going to differ from the information of figures above. This is because the numbers you get will depend on your specific circumstances. Note that Simply is a loan broker and not a lender.
About finance on electric car or electric vehicle
Electric car financing is an option should you want to enjoy a number of options when shopping around for an electric or hybrid vehicle. The financing we offer at Simply is aimed towards offering you the chance to be more in control and content so at the end of the day, you get to drive away with the perfect electric car or electric vehicle which resonates with your preferences and needs. What’s notable is we do that while ensuring that things are done in a less tedious manner. If you aren’t keen on having to fill out cumbersome forms, tedious paperwork and a whole bunch of confusing loan offers, we can help. We’ll simplify things for you. When you refer to Simply, you won’t have to deal with all the trouble of haggling and negotiating your way through a number of dealerships and lenders just to get a very reasonable loan offer. All you need to do is tell us some detailed information about yourself and we’ll work towards getting you back in the driver seat soon after. We have an electric car financing calculator you can refer to if you want to get some information or idea of what your repayments are going to be per month, based on the amount you plan on borrowing and your preferred repayment term. With this, you’d at least get a good idea whether or not the repayments are within your means or not.
Apply for electric car finance
Is Simply really the best way to go when it comes to electric car financing? The answer to that is simple. Simply is a loan broker and not a lender. It is our goal to get you the best possible deal for an electric car finance and that means taking the time to look at what the market offers and getting the best possible and personalised arrangement for you.
Electric car financing— What is it?
A lot of people often feel that the idea of driving around an electric car is just something that most people think isn’t for them, especially if they think that they may not be able to afford the costs involved. However, a great way around this is to sign up for electric car financing. This makes it possible for you to own an electric car because all you need to do is sign up for one electric car finance and you get content and access to the money you need to afford an electric car. Based on your preferred term, you then pay an affordable repayment per month. A car purchase is perhaps one of the biggest investments or insurance you are ever going to make. There are people who may have the means to pay for the purchase upfront and if you’re that person, kudos to you. Most of the time, people don’t really have extra cash lying around to pay a car purchase in full. Just like how you would take out a mortgage when buying a home, you can do the same thing for getting a car. With electric car financing, buying that electric car you have always wanted will be more than possible. A car financing is not only just about giving you access to cash but also giving you the power of making the purchase through cash. We are, after all, on your side. We are committed to making it possible for you to come out of the whole deal with the perfect electric car that’s ideal for your needs and is affordable enough for you to pay for. To help you understand the process involved, we break them down for you: First, we look around to find the best possible lender that is ideal for your specific electric car finance borrowing needs. We will then handle the process of helping you get access to the cash you need as fast as we can. Following this, an agreement which involves three parties— the lender, the dealership and you, will be made. Once the agreement has been signed, the lender will pay the purchase to the dealership. You will then start paying off the money you borrowed from the lender based on the arrangement that you have agreed with them. That is how electric car financing works, in a nutshell.
How does the process to finance electric cars work?
At Simply, we offer a simple three-step process for those interested in taking out an electric car finance loan to make it easier and more convenient for you:
- Start by giving us some details of yourself.
- Secure approval for the loan.
- Buy the car.
We will then take care of the rest for you. As you look around shopping for potential electric cars, we will carry out a soft enquiry of your credit records. Unlike a hard credit enquiry, this one is not going to impact your credit score so you won’t have to worry about other interested parties or future lenders seeing the search because it is not going to leave any footprints on your details. Once your application for electrical car finance gets the thumbs up, you will then be free to go out and pay for the perfect electric car you’ve always wanted.
Getting to know more about us
As a legitimate car financing broker, we have made it our main goal to assist as many customers as we can to get the best possible market deal when taking out a car financing loan and at the same time, ensure that their loan application for getting an electric car or ev financed will get approved as effortlessly as possible. We are committed to making your whole experience efficient, affordable and more importantly, relaxed. This is the reason that we never charge any admin fees on you electric car finance application. Thanks to our extensive network of reliable, reputable and respectable car dealers and lenders of electric cars or electric vehicles, we make it more than possible to find the right loan that’s just perfect for your needs and your budget. If you feel a bit helpless about figuring out how you can potentially afford an electric car or electric vehicle, just know that you’re not alone. We’re here to help.
Electric car financing- FAQs
Our team of financing professionals is always ready to assist you and offer you as much support you need to get the best deals from the best lenders we will not only be there to assist you as you go through the process of securing an electric car loan, we will be more than happy to help you find your ideal vehicle too.
I don’t have a good credit history, can I still get accepted for an electric car loan?
We are a broker with a heart and we always believe that there is more to a borrower than his credit history. We’re well aware that there are people who are a bit intimidated to come in and ask for our help because they are worried that the current state of their credit score is going to get in the way of them getting an approval. You may be self-employed and hence will not be able to show proof of employment, unlike other regular borrowers. It could be possible too that you’ve never taken out credit before so you cannot really provide us with any details of your credit history. It’s also possible too that you’re one of those borrowers who have made missteps with their past loans or have had issues getting your past loans paid back. You may have even been in a situation where you went through the whole CCJ process. Our job at Simply is not to judge you. We believe, after all, that bad credit which is a reflection of actions you did in the past, should not be reason enough to prevent you from getting access to financing at present. What we’re really more interested in is whether you can, at present, afford the repayments that you will then be responsible for when the time comes for you to start paying the loan back. As long as we can establish that you can afford what the loan repayments are going to be, despite your bad credit history, there’s a very good chance that you can secure a loan approval from the application of your electric car or electric vehicle. However, as a responsible broker, we do need to inform you that there is no way we can promise that every loan application will get approved. We are unable to offer a hundred percent guarantee on loan approvals, after all. However, what we can at least assure you, is that provided that you can show to us that the repayments are going to be well within your financial capacity, you will likely get the thumbs up you need.
I’m concerned of my credit score getting impacted if my application gets turned down
Just the mere fact that you’re looking around for potential electric car financing providers will not have any impact on your credit score. At Simply, when you come to us for help in finding the right electric car financing, we will only carry out a soft search. This is not going to leave a label or footprint on your credit score which means that it will not have any negative effect on your history whatsoever. What we’re really interested in is if your current address is verifiable and if it is indeed within your current financial means to pay for the loan repayments if and when you do get approved for one. There’s a reason your credit history is in the past. We’re not just interested in what your credit history says. After we perform a soft search, we will be able to tell right away if you have the means to pay for the loan or not. As long as we can see that you indeed can afford or deliver it, then getting approved is just a few steps away! If we see that you may struggle with the repayments after we have performed the soft search, you may have to adjust the amount you’re interested in borrowing. Before sending in an application, consider how much it is you can afford first. Consider the price of the electric car you’re interested in too. Also, determine what your preferred outcome is as well. We will deliver and get the rest of the work done afterward.
How fast do I get my electric car?
After you hit the apply button for the electric car loan, it can take only up to a few minutes for your application to get approved. If you’re already at the dealership, it is not impossible for you to actually drive off with the car you want on the same day. Still, we want to set your expectations right and we want to let you know that different individuals tend to have different circumstances. So what may be a quick application for some might take a bit longer for others. What we can assure our customers at Simply, however, is that our turnaround times for loan approval are generally accelerated. We know how important it is for our customers to get their ideal car on the road fast and we’re the best at making that happen. Convenient, efficient and fast, you’ll be driving with the perfect electric car in no time.
Can I get a better electric car via financing?
Buying a brand new electric car and paying the costs upfront is next miles to impossible for most people. If you already have a specific model in mind, you can work on a budget before making the purchase. This helps open up a much broader range of potential electric vehicles that you can purchase. Simply aims to give you the spending power. This makes it possible for you to enjoy better deals compared to what you will usually get if you will just go around checking out dealerships and lenders by yourself.
Am I required to get my car from a specific dealership only?
Not necessarily. Provided that the dealership you wish to purchase an electric car or electric vehicles from is a legitimate and reputable one, then you can just shop anywhere you wish to. If you need a bit of help finding the right dealers or vendors, Simply will be more than happy to get you directed to the right dealerships. We’ll be more than happy to get you a list of top dealerships that are not just known for their excellent service but also for their top-notch aftercare support where necessary.
Can you assist me in finding the perfect electric car?
At Simply, we know the car market very well. We also know what makes people tick. This is why we will be more than happy to lend a hand to customers that need a bit of assistance in sourcing the vehicle of their dreams to some vendors. If you’re having a hard time narrowing products choice on your own, we’re here to help you out. The electric car market has seen such rapid growth in recent years. This means that the options of the products available out there for you are more than plenty. This does have the downside of making it a bit overwhelming to sort through all the potential options. That’s where we can best assist you. We will take away the stress from the electric car buying process and will help get your confidence boosted in the process.
What happens if my application gets rejected?
Sometimes, the unexpected happens and you’ll find that your loan application got rejected. Experiencing rejection due to a history of poor credit can sometimes make you feel a bit hesitant and apprehensive in applying for loans. However, this should not discourage you from trying. At Simply, this is the reason that we offer bad credit car financing, specifically aimed at people who do not have a spotless credit record, to give them a chance in getting the car they want despite their credit history. To us, what really matters is you can afford the repayments of the loan you want to take out. Your credit history isn’t something that we will be banking our decision on. We have always been known for our excellent approval rate on car financing applications. Your poor credit history or your non-existent credit records shouldn’t be reason enough for you to stop on your tracks in getting the best electric car in the market through financing. After we get your finances verified and approved, there’s no stopping you from taking home your dream electric car!
Got more questions?
If you still have more questions about our electric car financing service, don’t hesitate to get in touch with us. Our team of friendly specialists will get your questions answered the soonest we can.